Let’s admit something, shall we. You, me, anybody, we may be writing jokingly about Bitcoin crashing and whatever. The reality is that you, me, and everybody else blew it by not buying something when it was so cheap.
That’s it!
It is fear what stopped you if you had money to buy Bitcoin. Maybe this is related to what other have went through. It happened to Toni Robbins. He met this lady in Los Angeles. She told him to invest in those penny stocks of some sort. The poor guy lost up to his underwear.
So, for those, me included, somehow, stop b…chitting! You are scratching your arse thinking how stupid you were by not buying when Bitcoin was a joke.
Same thing happened with Facebook on the Redfin forum, everybody making fun of those investing or criticizing their IPO going so down.
Yes, missed the boat. But if it were to happen all over again I would’ve missed it again. Currency is not my friend, neither are commodities. Too bad for me!!! However stocks are my friend so I got in early with FB. Good enough for me! You can’t win everything… I’m at peace
However, that doesn’t mean crypto isn’t in a dangerous bubble and there is irrational exuberance to the nth degree. Popping of this bubble will leave many people financially broken and bitterly resentful.
I was thinking to put 1% into cryptos. Had Coinbase allowed, I would have put 10% into it. Losing 10% is not much, gaining 300% in 2 weeks meaning networth grown by 30% in 2 weeks. It still does not make much difference.
It would be more meaningful if you invest 10% of the networth, and it grows by 100x. Then your networth multiplied by 10. That would be amazing for a year. And guess what, everyone of you had that opportunity in January 2017. If you lose 10%, not a big deal. If your networth grows by 10x, it does make a difference.
Somtimes you got to take some risk. 1% to 10% loss is ok. Even your stock can drop by 10% easily. Litecoin can be a better trade off than your fav stock.
If you bought 100 bitcoins at $2 each. And if the price drops to $1000 a piece, your financial is not ruined, it is much better
Both 1% and 10% were mentioned. It was consistent if you read carefully.
Also the growth rate is (new-old)/old. Were you doing (new-old)/new?
Gaining 300% means quadrupled
“I was thinking to put 1% into cryptos. Had Coinbase allowed, I would have put 10% into it. Losing 10% is not much, gaining 300% in 2 weeks meaning networth grown by 30% in 2 weeks. It still does not make much difference.”
If you managed to make 1000% in one year, you can also lose 1000% in another year. This is a gambler’s mentality for short term gain. You don’t just cash out after your 1000% gain and do nothing else from there on. Therein lies the fallacy… nobody is ever good enough to keep making 1000% gains over and over again. Eventually you will lose it all back or break even if lucky.
Best strategy is still buy and hold for the long term… slow and steady always wins the race. And I’m not dissing bitcoin here… the hodlers who have held it for more than 5 years are the real winners here. Everyone else who bought in this year are gamblers and stand to lose their fortune and then some in due time.
GBTC has a low trading volume. I can see that my trade of a a few shares do impact its price by 0.2%. GBTC can be easily manipulated. If everyone of us go buy 10 shares on the same day, we can move the price by more than 10%. Its daily volume is around 100k shares. I do not know what kind of people trade GBTC, but the volume is so low that professionals may try to avoid it, or skillfully exploit it with patience.
Next time, I need to buy or sell 1 share at a time to avoid the market maker to take advantage of me. I just sold half today since the 55% premium seems too high for me
Like most exchanges bitFlyer will have tiered verification levels. The first level asks for personal information like your name and address and email and cell phone verification, and in return you can deposit and withdraw up to $2,000 in bitcoin per day and trade up to $3,000 in bitcoin per day. The second tier asks for additional information like bank account verification and proof of identity via photo ID, and allows users to deposit and withdraw up to $50,000 in bitcoin per day and trade an unlimited amount of the cryptocurrency.
Ok this is unrelated but somebody tried to scam me today… I got a phone call from some guy with a very heavy accent. He claimed that since I have been an excellent citizen by always paying taxs on time, the federal government is going to give me a $9,000 bonus. He then asked for either my bank account or credit card () to deposit the money into. I said you can mail me a check. He said he doesn’t have the ability to do so…
. 300% of 1% = 3% 
Actually is less, 2/102 ~ 2% 
(2.9% if you really meant gain).
